Mitt Romney, the former 2012 Republican presidential candidate, has been named in a racketeering lawsuit, reported Addicting Info.
The lawsuit has been filed under the Racketeer Influenced and Corrupt Organizations Act (RICO) in relation to an accident of corporate liquidation. Addicting Info describes the RICO Act as closing a loophole “which enabled crime bosses to get away with murder by merely ordering, or even suggesting, for crimes to happen.”
Essentially, the RICO is a refined anti-conspiracy law that can be applied to any group of people committing criminal acts in concert with one another.
The lawsuit was filed by Stephen “Laser” Haas of Collateral Logistics Inc. In 2001, Haas’ company oversaw the asset liquidation of eToys. The lawsuit asserts that Romney and his company, Bain Capital, Goldman Sachs, and several others manipulated the sale price of eToys during the bankruptcy liquidation .
Addicting Info reported that a federal judge “confirmed the details of the case back in 2005.” However, the Bush administration was weak in enforcing the RICO Act.
Bain Capital has been named in price-fixing scandals in the past, and there are reportedly documents that implicate Romney in the price manipulation of eToys.
Crooks and Liars reported that according to Haas’ affidavit, CLI found “accounting irregularities” connected to Bain Capital. Haas then reported the anomalies to US Attorney Colm Connolly who just ended up ignoring the discovery.
It was later alleged that Connelly’s law firm had close ties to Romney, which could explain the lack of action taken against the irregularities. Because of that, Connelly has also been named in the lawsuit. Could these two have acted in collusion?